In other news, Longi raised funds to build another 18 GW of solar cell capacity and Suntech began work on its 10 GW module factory in Anhui Province.

Polysilicon maker GCL-Poly announced it is planning to move from the Hong Kong stock exchange to be listed on stock exchanges in mainland China. The company is one of the four listed companies of GCL group and for the past fiscal year it reported a net profit of around RMB5 billion ($786.3 million). Due to its listing on the Hong Kong stock exchange, its market value — estimated at around HK$80 billion ($10.2 billion) — is impressively low if compared to its major rivals like Tongwei, Xinte and Daqo.

Module manufacturer Longi announced on Friday it raised RMB7 billion by issuing convertible bonds. The funds will be used to increase the company’s solar cell manufacturing capacity by another 18 GW, consisting of a 15 GW factory that Longi’s wholly-owned subsidiary Longi Lerri Photovoltaic Technology Co., Ltd, wants to build in Xi’An, Shaanxi Province, and a 3 GW facility planned for Yinchuan City, Ningxia Hui Autonomous Region of western China.

Panel provider Suntech announced on Tuesday that it had begun construction of a 10 GW solar module manufacturing facility in Fengyang, Anhui Province. The factory should be completed by the end of October and will produce 182 mm and 210 mm modules.

The General Administration of Customs of China said on Friday that China sharply increased imports of polysilicon in 2021. Total imports reached 114,000 metric tons, with YoY growth of 13.4%. The trade value, however, increased YoY by 114% to USD$2.04 billion due to the high silicon price. Germany ranked number one among top importers, followed by Malaysia, Japan and Taiwan. Together they accounted for about 90% of total imports. South Korea, the top exporter to China in 2017, dropped to number six in 2021.